ASK Group announces exits of INR 147 cr from Pune realty investments - with Amit

Enterprises and Paranjape Schemes

Mumbai, March 11 2015: ASK Group, a leading financial services group, today
announced exits from two residential projects in Pune, garnering Rs. 147 Cr while clocking
impressive returns. ASK Group has made a total investment of INR 30 Cr in Serano project at
Baner, of Amit Enterprises, that has garnered an exit value of INR 75 Cr, within investment
period of over three years, returning a multiple of 2.53 times. The project is focused on
upwardly mobile middle class and located strategically in the growth and scenic corridors of
Pune. The second project, Skyone is being developed by Paranjape Schemes , and is located
in the heart of Model Colony, offering 29 bespoke residences. Here, the investment of INR
40 Cr has given an exit value of INR 72 Cr in less than three years with a multiple of 1.80
times. Both these investments were made from ASK's first domestic real estate fund, ASK
Real Estate Special Opportunities Portfolio 1.
The performance of ASKs first real estate fund , has demonstrated the success of its focused
strategy of investing in residential real estate projects, in top metros, in partnership with
experienced and reputed developers. In addition to the two announced Pune exits, the
group has earlier exited from ATS ONE Hamlet, a project of ATS Group in Noida, with a
multiple of 2.45 in just over two years and Liviano, a project by Darode-Jog Developers in
Pune, which returned a multiple of 2.35 in just over three years. ASK Fund invested project in
Chembur named Godrej Central has witnessed remarkable success and 80% of the project
has already been sold. The other two investments, one with Mantri Developers of Bengaluru
and Real Value Developers of Chennai are also at advance stages of execution, with good
sales velocity.
Mr Amit Bhagat, CEO & MD of ASK Property Investment Advisors said, With these exits we
have returned 1.15 times of the entire capital equivalent of the first fund to investors. Our
partnership with renowned developers like Amit Enterprises and Paranjape Developers and
our confidence in Pune market has given us rich dividends. We will continue with similar
prudence and risk management framework while selecting investments for our other funds
to provide superior risk adjusted returns to our investors.
Mr Sunil Rohokale, MD & CEO, ASK Group, said: ASK has managed to raise the two domestic
and an offshore fund during very tough economic environment. Apart from our investment
strategy, we are diligent even while partnering with developers with whom we have
relationship going back to more than a decade. We have chalked out detailed plans of exits
from other investments over the next 6 to 12 months with targeted returns for our
investors.

ASK Group through its Real Estate Business manages an AUM of Rs 3000 crore and has
committed Rs 1800 crore in 16 projects spread over 18mn sq ft during the last 18 quarters.
ASK had invested with Paranjape from its second domestic fund in 2014 and fund is actively
seeking investments in Pune in the current financial year.
About ASK Property Investment Advisors
ASK Property Investment Advisors (ASK PIA) is a venture of the ASK group set up to manage
and advise real estate dedicated funds. This initiative of the group rests on the backbone of
extensive investment and asset management expertise backed by strong research focus. The
real estate team has over 100 man years of cumulative experience and comprises some of
the best professionals with mortgage finance, real estate, construction and asset
management experience.
ASK PIA raised Rs 326 crore under tough market conditions in the period March 2009 to
December 2009 and has committed 100% of its Portfolio. It also raised second domestic fund
of Rs 1000 crore in 2011. On the offshore front, the ASK Group has recently made an initial
close of Rs. 300 crore (USD $ 50 mn) for its USD $200 mn fund.
The company has also raised structured debt of Rs 395 crore for some of the most reputed
and financially prudent developers with which they share a good relationship.
About ASK Group
The ASK Group is a renowned Financial Services Group and is today a leading player in the
Wealth & Investment Management business, and manages the wealth & investment needs
of some of the most affluent families in India. With close to three decades of presence in
India, ASK group has been a true believer in the India growth story and over the years has
grown hand-in-hand with its clients across the globe.
The group is represented in India through its four key businesses: Wealth Advisory and Multi
- Family Office Service ASK Wealth Advisors, Portfolio Management Services ASK
Investment Managers, Real Estate Private Equity ASK Property Investment Advisors and
Private Equity Management ASK Pravi Capital Advisors.
It has 7 offices in India through which it services the needs of clients across the country.
Through its office in Dubai the group manages clients in GCC & Africa and through its office
in Singapore it manages real estate and equity investments made in India.
As on Feb 2015, the ASK group currently manages assets of approximately Rs 15,000 crore
(US $2.5 Bn)
For more information, please Contact:
Prathamesh Pathak
Manager PR, ASK group
ppathak@askgroup.in
+91 7387999136
Khushal Devera/ Venkat Raman
Ketchum Sampark PR
Khushal.devera@ketchumsampark.com venkat.raman@ketchumsampark
+91 - 9819666376/ 9561532600